The Indian Hotels Company Limited has disclosed an additional penalty of ₹5,51,35,972/- on outstanding property taxes for its Taj Lands End, Mumbai property. This brings the total cumulative penalty to ₹103,08,31,312/- for the 2026-27 tax year. The company is disputing these tax bills, and the financial impact is limited to the disclosed penalty amount, with no foreseen impact on operations.
Property Tax Penalty Update
The Indian Hotels Company Limited has issued an intimation regarding a penalty levied on its outstanding property taxes. Further to a previous disclosure, the company has received an additional claim of penalty amounting to ₹5,51,35,972/-. This penalty pertains to the property tax for the year 2026-27 for the Taj Lands End property in Mumbai, as reflected in the tax bill from the Brihanmumbai Municipal Corporation (BMC).
Total Penalty and Dispute Status
With this additional claim, the total cumulative penalty on the outstanding property taxes now stands at a significant ₹103,08,31,312/-. The company has clarified that there have been no violations committed. The tax bills in question are currently under dispute by the company.
Financial and Operational Impact
The financial impact, if any, is expected to be to the extent of the amount disclosed in point 2 of the annexure. The company has stated that there will be no impact on its operations or other business activities as a result of this disclosure.
Source: BSE
